Allcare establishes insurance company

Allcare Insurance of Msida is the newest company to join the local insurance sector after being authorised by the Malta Financial Services Authority to transact all classes of non-life insurance business from last January 1.

It is the first licence to be granted to a company to underwrite general business in the local market since 2004.

The new insurer comes from a group which includes Allcare Insurance Agency Limited – the firm has been operating for more than 25 years. Allcare Insurance Limited has the same shareholders of Allcare Insurance Agency Limited.

They are La Laguna Limited, Global Management Services Limited and Tumas Group Company Limited.

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